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3aDecision of Head of Regulation
Date of Order: 26 April 2024
Regulated Member Name: Nicholas Wood
RICS Membership Number: 1125204
Location: Ben Rhydding, Ilkley
The Regulated Member has admitted the following breach of the rules of conduct, and accepted liability for disciplinary action and the imposition of Regulatory Compliance Order for the following:
1. Between 9 January 2020 and 11 April 2023, Nicholas Wood produced property survey and valuation reports for 21 clients. In doing so, he failed to comply with his professional obligation to apply to join RICS’ Valuer Registration Scheme when he was required to do so.
Contrary to Rule 3 of the Rules of Conduct for Members and Rule 1 of the Rules of Conduct 2021
2. Between 28 September 2021 and 11 April 2023, Nicholas Wood produced property survey and valuation reports for 12 clients using an RICS HomeBuyer Report template which was, and still is, obsolete and therefore did not adhere to RICS’ Home Survey Standard.
In doing so he failed to provide good-quality and diligent service, or carry out his professional work with proper regard for the technical standards expected of him.
Contrary to Rule 4 of the Rules of Conduct for Members and Rule 3 of the Rules of Conduct 2021
Outcome: Regulatory Compliance Order (RCO)
This requires the Regulated Member to accept a caution, contribute £500 towards the cost of investigation, and agree to publication of a summary of the Order for a period of 12 months.